Connecticut State Employees Mortgage Rates, Fees & Info

Hartford, CT

LEI: 5493005H3NABV4GMAG85

Tax ID: 06-0663293

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Connecticut State Employees is a smaller mortgage company specializing in Home Improvement and Other loans. Connecticut State Employees has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, New Haven, Bridgeport, Norwich, and Worcester among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Connecticut State Employees has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
15 Year Conventional Refi 5.71% 6/23/24
15 Year Cash-out Refi 5.71% 6/23/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Connecticut State Employees Mortgage Calculator






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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

389

Origination Dollar Volume (All Markets)

$26,155,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 233 $15,955,000 $68,476 $370 5.17%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 66 $4,020,000 $60,909 $324 5.27%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 22 $1,860,000 $84,545 $374 5.42%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 28 $1,830,000 $65,357 $350 4.90%
WORCESTER, MA-CT (FHA|USDA|VA) 20 $1,430,000 $71,500 $378 4.93%
Torrington, CT (FHA|USDA|VA) 17 $915,000 $53,824 $336 5.01%
Outside of Metro Areas 3 $145,000 $48,333 $398 4.93%
Connecticut State Employees's top markets include Hartford, New Haven, Bridgeport, Norwich, and Worcester among others.

Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 389 $26,155,000 $67,237 $360 5.16%

    For 2023, Connecticut State Employees's most frequently originated type of loan was Conventional, with 389 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 192 $10,140,000 $52,813 $355 5.11%
    Other 128 $8,050,000 $62,891 $357 5.21%
    Refi 36 $3,190,000 $88,611 $365 5.06%
    Cash Out Refi 32 $4,700,000 $146,875 $390 5.37%
    Home Purchase 1 $75,000 $75,000 $458 5.50%

    For 2023, Connecticut State Employees's most frequently cited loan purpose was Home Improvement, with 192 originations. The 2nd most popular reason was Other, with 128 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 124 $9,990,000 $80,565 $355 5.71%
    10 Year 118 $7,490,000 $63,475 $361 5.22%
    5 Year 110 $4,590,000 $41,727 $349 4.54%
    Other 26 $2,170,000 $83,462 $408 4.41%
    20 Year 11 $1,915,000 $174,091 $400 6.27%

    For 2023, Connecticut State Employees's most frequently cited loan duration was 15 Year, with 124 originations. The 2nd most popular length was 10 Year, with 118 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 206 $11,540,000 $56,019
    5-6% 134 $10,380,000 $77,463
    6-7% 48 $4,180,000 $87,083
    7-8% 1 $55,000 $55,000

    During 2023, Connecticut State Employees's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 206 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 317 $14,945,000 $47,145 $348 5.11%
    $100k-200k 60 $8,240,000 $137,333 $412 5.36%
    $200k-400k 12 $2,970,000 $247,500 $410 5.53%

    2023 saw Connecticut State Employees place emphasis on $100,000 or less loans with 317 originations, totaling $14,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 137 $8,955,000 $65,365 $358 5.21%
    $150k-250k 113 $8,635,000 $76,416 $361 5.05%
    $75k-100k 82 $4,770,000 $58,171 $363 5.18%
    $50k-75k 27 $1,445,000 $53,519 $366 5.14%
    $250k+ 18 $1,690,000 $93,889 $362 5.21%
    $50k or less 11 $605,000 $55,000 $333 5.49%

    Connecticut State Employees lent most frequently to those with incomes in the $100k-150k range, with 137 originations. The second most popular income band? $150k-250k, with 113 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 192 $13,140,000 $68,438 $361 5.08%
    <20% 98 $5,910,000 $60,306 $340 5.08%
    30-36% 89 $6,485,000 $72,865 $381 5.40%
    36% 9 $565,000 $62,778 $341 5.32%

    Connecticut State Employees lent most frequently to those with DTI ratios of 20-30%, with 192 originations. The next most common DTI ratio? <20%, with 98 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 331 $22,455,000 $67,840 $361 5.15%
    Black 42 $2,800,000 $66,667 $347 5.29%
    Asian 12 $760,000 $63,333 $384 5.16%
    American Indian 4 $140,000 $35,000 $329 4.80%

    Approval Rates

    Total approvals of all applications
    79.58%

    Connecticut State Employees has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.52%

    Connecticut State Employees has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 389 $26,155,000 $67,237

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    389 $26,155,000 $67,237

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 81 $7,895,000 $97,469 $381 5.36%
    40-60% 17 $2,945,000 $173,235 $440 5.48%
    60-80% 7 $1,565,000 $223,571 $385 5.82%
    80-100% 2 $420,000 $210,000 $433 5.90%
    Under 20% 282 $13,330,000 $47,270 $348 5.06%